Pakistan International Airlines (PIA) plans to implement the following measures in order to return to profitability by 2023, according to Ishrat Hussain, advisor to Pakistan‘s Prime Minister Imran Khan (Bloomberg/Daily Pakistan/The News International, 27/28-Apr-2021):
- Reduce fleet to fewer than 30 aircraft;
- Replace older aircraft with fuel efficient aircraft;
- Reduce workforce of 14,000 employees to approximately 7000;
- Permanently suspend unprofitable services, including to Tokyo and Manila;
- Outsource non core operations, including catering and engineering units.
Mr Hussain said PIA will consider plans to sell a 26% stake once it resumes recording profits. He commented that the measures do not represent “grandiose plans to become like Emirates or Etihad or Qatar” but are simply aimed at restructuring PIA into “a very lean and efficient organisation”.